GM CEO pay being frozen by Government

SouthCo · April 7, 2012

http://money.cnn.com/2012/04/06/news/economy/treasury-gm-pay/index.htm?hpt=hp_t3

Didn't see that this was posted yet. Not sure if it matters.

Badbird2000 · April 7, 2012

good for them. They still wont starve on their salaries...

Morgan1986 · April 7, 2012

9million dollers is a freeze .... I was more thinking of just minium wage for the CEOs .

BlackZ71Silverado · April 7, 2012

People may disagree BUT the Govt. should NOT be able to dictate your salary. I understand he makes a boat load of money but it still isn't the right thing to do. Govt. has been forcing their way into to much the past couple years No way should this be allowed.

Morgan1986 · April 7, 2012

People may disagree BUT the Govt. should NOT be able to dictate your salary. I understand he makes a boat load of money but it still isn't the right thing to do. Govt. has been forcing their way into to much the past couple years No way should this be allowed.

Doesnt the gov own most of the shares in that company ? The share holder rep board I believe can vote on the salary.

BlackZ71Silverado · April 7, 2012

Not sure about that BUT the Govt. had done this to corp. people even before the big bail-outs.

It's wrong in all aspects of a free country. If the Govt. can dictate your salary/hourly rate and get away with it, no telling what else they will do.....Kind of like being forced into buying health insurance OR choose to pay a fine. If they think they (Obama) can force you to buy a certain product and get away with it, we are in big trouble. People living under a dictator have to deal with things like that, we as a free people should not stand for it in any way!

If this guy gets re-elected, the United States Of America is in for a rude awakening IMO...God help us.

Morgan1986 · April 7, 2012

Not sure about that BUT the Govt. had done this to corp. people even before the big bail-outs.

It's wrong in all aspects of a free country. If the Govt. can dictate your salary/hourly rate and get away with it, no telling what else they will do.....Kind of like being forced into buying health insurance OR choose to pay a fine. If they think they (Obama) can force you to buy a certain product and get away with it, we are in big trouble. People living under a dictator have to deal with things like that, we as a free people should not stand for it in any way!

If this guy gets re-elected, the United States Of America is in for a rude awakening IMO...God help us.

Would like to know of a example of a company that was not a public sector company getting a cap on how much they can make. To me GM is goverment owned and it can decide how much to pay.

Morgan1986 · April 8, 2012

Not sure about that BUT the Govt. had done this to corp. people even before the big bail-outs.

It's wrong in all aspects of a free country. If the Govt. can dictate your salary/hourly rate and get away with it, no telling what else they will do.....Kind of like being forced into buying health insurance OR choose to pay a fine. If they think they (Obama) can force you to buy a certain product and get away with it, we are in big trouble. People living under a dictator have to deal with things like that, we as a free people should not stand for it in any way!

If this guy gets re-elected, the United States Of America is in for a rude awakening IMO...God help us.

Would like to know of a example of a company that was not a public sector company getting a cap on how much they can make. To me GM is goverment owned and it can decide how much to pay.

and from a out side perpective . The USA was down shiat creek for a while and Obama is not the only person that did that. It was way before him . Your just angry and want someone to blame and put a name on . Also for a free country to really be free their has to be enforced laws/rules. Now back on topic , this is not a politics . This is just a publicly owned company and the Goverment has alot of shares in it and they can decide how much the CEO makes . Simple as that and their is nothing wrong with that. ummmm by the way I am not 100 percent sure what I am saying but I am pretty sure the gov owns alot of GM and share holders vote on board members and boared members decide what pay they get.

BlackZ71Silverado · April 8, 2012

I know this is not a political topic but I am going to respone to your post.

Before you make assumptions, be sure you understand what's really going on. I am not angry or tyring to place blame, you misunderstood the post I guess?

We were going downhill before this guy BUT our current President had made things much much worse. You don't live in the US and really don't realize that this guy had accumuliated more dept. than every other President combined since the short time he has been in office. Our unemployment has sky rocketed and hard working people like myself have to go to work everyday so people that are to lazy to go out and get a job can collect welfare out of our paychecks and our taxes.

The policies are destroying our country and it's not looking any better. Trying to Force the American people to purchase things or face fines is against our Constitutional rights.

I don't live in your country so I will not even take a guess or pretend I know how it works or what is going on there, you should do the same.

Stopping the oil drilling off of our coast by American companies also does not help. Most of our oil we get from out states is exported while we pay out the rear end for fuel from over seas, that also hurts. This "green energy" investments have failed and wasted more money that we don't have. It was a joke from day one. Companies were given millions of our tax dollars for this "green" nonsense and have failed miserably. Now we, the American tax payers are on the hook for the bill. You can go on and on, it doesn't matter, nothing we (American citizens) can really do but hold on and go for the ride.

You are right about the GM deal, the U.S. Treasury owns about 60% of GM, I think, not good if you think about it. Not sure what you are talking about free country has to have laws rulkes, ummmmm we do.

You want an example of a NOT public sector owned company getting told how much they can get paid....How about ALL Federal employees for the past two years? I work federal law enforcement and our pay has also been frozen, along with all other federal employees EXCEPT for the administration and their pals.

Sorry about the rant.....MORGAN1986, If you want to have a friendly polite debate, hit me up through PM so we don't keep this off topic.

SORRY.........back on topic!

They definately won't starve, that's for sure. I wish I made that much money in a year.

Doug_Scott · April 8, 2012

Before you make assumptions, be sure you understand what's really going on. I am not angry or tyring to place blame, you misunderstood the post I guess?

We were going downhill before this guy BUT our current President had made things much much worse. You don't live in the US and really don't realize that this guy had accumuliated more dept. than every other President combined since the short time he has been in office. Our unemployment has sky rocketed and hard working people like myself have to go to work everyday so people that are to lazy to go out and get a job can collect welfare out of our paychecks and our taxes.

The policies are destroying our country and it's not looking any better. Trying to Force the American people to purchase things or face fines is against our Constitutional rights.

I don't live in your country so I will not even take a guess or pretend I know how it works or what is going on there, you should do the same.

How do you get your information regarding your point that I quoted? Is there some news/info source in the USA that is only visable to people that actually live there?

Canada does not have such a hidden, citizen only info source, so you can see exactly what I get to see about Canadian politics.

Morgan1986 · April 8, 2012

anyways should creat a other fourm if we want to talk about this . I personaly think its a good thing the shareholders are cutting back on the CEOs salary. That is all this is and I dont know why share holders dont do it with more companies they have that right to do so. A example is company X has 10 shares we own 6 of those shares . We can vote who the board of directors are and the directors vote how much the CEO gets payed. If the directors want to keep their jobs they will do what shareholders best interests are .

Morgan1986 · April 8, 2012

The company GM is a majority goverment company sad to say and if the goverment did not own it we would not be driving new GM trucks today. They can decide how much to pay the CEO . The CEO does not run it , He is not the boss the share holders own it and they are the boss. Coporations are suppose to give the best interest of the shareholders and the shareholders have the power to vote in the board of electives I think and the board votes the CEO and his pay but what is kinda wrong with that the CEO is also on the board of directors and can influences the other members .

I am pretty sure that is how it works ..... could be wrong.